Youngtrader's Commodity Journal

Nice short in sugar man! I never thought it would of fell this far!

I don't know if I told you guys or not but I got out of all my 175 coffee calls at .25 for a profit of .95 per contract!

Also got out of my lumber at 248.5 for an $1,100 per contract gain!

All I have left is a few short 97 auggie cattle puts at 1.00 (Im trying to scratch those as we speak). Also shorted some auggie hoggies at 78.5 and last I still have my long 15/14 put spreads in beans at .39 looking to cover those at .75 though
 
Sadly I got out of my cattle puts for a scratch. I seen them starting to pop and called the floor to pull the bid but to late lol!

Got out of all my bean put spreads at .68 for near $1500 profit per contract!

Only thing I have left is my short auggie hogs at 78.5 if we can break today's tomorrow I will add more shorts.


YT
 
Ok guys a little update.

Can't remember exactly where I covered my hogs for a loss but I believe it was something like 79 even. So a $200 loss on that trade.

I shorted some beans yesterday at 13.85 and am looking to hold all the way down to 13 even.

Other than that I got nothin :D


Good Trading
 
Yt...

SU8 --looked like 55% going up..just like sugar before this.

last week is quite confusing mkt for me'--may be caused by oil ?

losing usd315 in SBV8... :D
till next time
 
Sorry for not posting guys but I have really been out of the commodity game for a few weeks now. Mainly been trading equities and absolutely loving them! I love the fact that the level 2 orderbook seems so much more transparent than a futures orderbook. Also there seems to be a lot more golden opportunities in microcap equities than in the commodity market (so many stocks and so few commodities to watch so naturally there will be more diamonds in the rough).

I have been investing a ton of my capital into a stock called Spongetech Delivery Systems (SPNG).

I honestly think that this stock will be at $10 a share within a few years and I will be a super happy kid!!! :D

Here is a brief summary that I came up with last night for you guys. For all of my loyal readers out there I figured why not let you guys share some of the profits with me, after all we are practically family right? lol :D


SPNG

Spongetech Delivery Systems Inc designs, produces, markets and distributes cleaning products for vehicular, pet and bath uses, utilizing technology relating to hydrophilic sponges, which are liquid absorbing in the core of the sponge then released gradually during use.

Spongetech’s automobile sponges have both wax and wash built into it, all that is needed is a little water. Spongetech allows you to wash up to 8 cars on one sponge.

Spongetech also has a product called Puddle Pals, which is designed for children. It is a bath foam sponge, with a safe mesh coating, which prevents tearing, in the shape of animals in various colors. The sponges, which float, are infused with a gentle soap/shampoo, sulfate free, inhibits bacteria growth in sponge and thorough gentle cleaning soap.

SPNG reported 3Q net income of $188,482, which is up 2,074% from 2Q net income of $8,668.

3Q revenues of $1,281,704 were up 359% from 2Q of $278,976

If you take SPNG’s net income for the quarter and multiply it by 4 to annualize the number it equals $753,928 or an earnings per share value of $.00384! A price/earnings ratio (amount you are willing to pay for earnings) of just 20 which is the industry average would value SPNG at .07 a share!

SPNG reported in April 2008 an $18,391,702 order back log that is scheduled to be shipped between now and January 2009! If you annualize SPNG’s revenue backlog and factor in its 3Q net margin of 14.7% we are talking about a potential $3.6 million in annual net income which equals earnings per share of $.018 which would value SPNG at a $.36 stock!!!

SPNG is already partnered with the New York Mets and the New York Yankees in a marketing campaign.

They also have commercials running on many cable and satellite channels through the year 2010


Something to think about guys

Good Trading

YT
 
SPNG closed at .045 today guys! Company came out and said that they are going to buyback $25 million shares!!! This is roughly 25% of the float!

This is an opportunity guys! I don't think I have ever seen a better opportunity in my career!

YT
 
Quote from youngtrader:

SPNG closed at .045 today guys! Company came out and said that they are going to buyback $25 million shares!!! This is roughly 25% of the float!

This is an opportunity guys! I don't think I have ever seen a better opportunity in my career!

YT
More...

interesting to see you went from what i interpreted as position trading in commodity futures to basically investing in speculative stocks, i'm saying speculative not because it's a bad company or anything but because it is a micro cap stock... wish you luck i'm also your age, have read most of your journal, good stuff congratulations, i started off with equities and am continuing with them, i'm up but not nearly as much as you are then again i've only been at it less than half the time you have.
 
Quote from staffpro:

interesting to see you went from what i interpreted as position trading in commodity futures to basically investing in speculative stocks, i'm saying speculative not because it's a bad company or anything but because it is a micro cap stock... wish you luck i'm also your age, have read most of your journal, good stuff congratulations, i started off with equities and am continuing with them, i'm up but not nearly as much as you are then again i've only been at it less than half the time you have.
More...


staffpro

As most know on this journal, I get extremely complacent in just about everything I do. I always need something new and exciting to keep me going, especially in this business. So basically I just continuously move from different markets all the time to keep me interested. Some days I like to scalp (which is most days) and you will usually find me up at 3am scalping the eurex fixed income markets. Some days I like to trade the spreads, other days I like to position trade, and yet other days equities are where I want to be.

Im sure your probably thinking "this guy is fucking nuts!" but honestly its just who I am and it probably will never change. I am one who needs constant action in my life along with constant change or else I lose interest in anything I happen to be doing.

By the way SPNG came out with a super annual report Friday!!! That little stock generated over 1.2 million in net income!!! Thats better than a year ago which was a loss of like 800,000!

Other than that I am short a few nov beans and got hit pretty hard being long energies going into the weekend, but nothing too serious.


YT
 
Quote from youngtrader:

SPNG closed at .045 today guys! Company came out and said that they are going to buyback $25 million shares!!! This is roughly 25% of the float!

This is an opportunity guys! I don't think I have ever seen a better opportunity in my career!

YT
More...


LOL

First off let me say I have always enjoyed your posts, you have a lot of common sense for a young trader.

I think common sense is the most important quality for any trader to have.

Secondly, I would caution you not to place all your eggs in one basket with the equities markets especially penny stocks.

Your learning and that is excellent but learn with small trades and at your age I do mean small, like $500 max per trade.

Best of trades to you !!!
 
Youngtrader,

Is that you Magnus Greaves refers to on pg 16 of September Trader Monthly magazine?

"....This young man is 17 years old. He is in high school in Iowa. And he trades European bond futures quite successfully from 3 to 7 o'clock every morning before he goes to school..."
 
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